United Spirits falls over 6% after Diageo issues profit warning

Shares of liquor company United Spirits slipped as much as 6.34 per cent in the intraday trade on Friday after the parent company Diageo warned that its full-year profits will be dented by the recent sell-off in emerging market currencies. 

Diageo, which has operations across 180 countries, said it expected currency effects to knock 175 million pounds off net sales, compared to a previous estimate of 70 million pounds, which would wipe 45 million pounds off its full-year profit, up from an earlier estimate of 10 million pounds, said a Reuters report. 
 

However, the maker of Johnnie Walker scotch and